Bank get out of jail free settlement moving forward

There are entirely too many "coulds" and "mights" in this article. One other detail jumps out; if California receives 9 to 15 of the 25 Billion, a "couple hundred million" per remaining state is not valid. These banks are being given a free pass, especially when you consider how much the taxpayer has given them. We are literally paying the settlement for them.

 

 

Mortgage Bankers Association "extricates" self from owning property...

...the irony of the MBA ditching this investment, while moralizing that homeowners should continue to pay their mortgages, is...well, quite ironic.

CombatEffective: Wall Street & Congress issue final F*** You to America...

...with the failure of this legislation, underwater homeowners are now on their own. if you are massively underwater and in an area not expected to recover within the next five years, it's in your best interest to pack your boxes and mail your keys to the lender. If you're in a deficiency state, declare bankruptcy when you get the Notice of Default.

ruthless default

...because what's good for the corporations should be fine for the homeowners. Check out the main blog here: rationaldefault